US President Donald Trump has ruled out military action to take control of Greenland while also saying he wants to hold more talks on the United States acquiring the island, which he described as “our territory” during a keynote speech at the World Economic Forum in Davos, Switzerland, on January 21. Hours after his speech, Trump also walked back a plan to impose tariffs on some European countries for opposing his Greenland policy. In Trump's highly anticipated speech on an issue that has caused acute alarm in other NATO countries,…

Oil prices fell by about 1.5% early on Thursday as U.S. President Donald Trump walked back on his threat to slap tariffs on NATO allies for supporting Greenland’s sovereignty. As of 7:42 a.m. ET on Thursday, the U.S. benchmark WTI Crude had dropped below the $60 per barrel mark, which it hit early this week amid intensified rhetoric regarding the U.S. interest in taking control of Denmark’s autonomous territory.   WTI Crude traded 1.58% lower at $59.66.  The international benchmark, Brent Crude, slipped below the $65…